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First purchase agreement
Posted on 12/20/13 at 9:16 pm
Posted on 12/20/13 at 9:16 pm
So I've agreed with a seller on a purchase agreement on my first house. It was listed at $165k, offered $155k, countered at $160k and then we settled at $158k with a 1 year warranty.
1425 sq. ft. ($110/ft)
3 bed/ 2 bath- 30 year old house near Highland and Siegen.
It's exciting to get over the first big hurdle I guess but part of me is terrified. So someone who knows better, please, tell me how I did
1425 sq. ft. ($110/ft)
3 bed/ 2 bath- 30 year old house near Highland and Siegen.
It's exciting to get over the first big hurdle I guess but part of me is terrified. So someone who knows better, please, tell me how I did
6
Posted on 12/20/13 at 9:25 pm to LSUstudent2006
Get a good inspector.
Posted on 12/21/13 at 12:30 am to LSUstudent2006
Congrats 
Posted on 12/21/13 at 5:50 am to LSUstudent2006
Are they paying closing costs?
Another thing, with regard to the inspection, make sure you're there with the inspector during the inspection.
I should have been more incvolces with mine. I hired one that was credentialed and I paid a lot for the inspection thinking I would get quality work. In the end, he missed the fact that the drain plumbing in the house needed to be redone. He identified a leak in the drain plumbing, but didn't make note that the plumbing was very poorly done and old.
I ended up doing most of the work myself, but it entailed completely gutting the floor and parts of the walls out of a downstairs bathroom and tearing parts of the floor out of the upstairs bathroom. Cost me around five grand, easily.
Another thing, with regard to the inspection, make sure you're there with the inspector during the inspection.
I should have been more incvolces with mine. I hired one that was credentialed and I paid a lot for the inspection thinking I would get quality work. In the end, he missed the fact that the drain plumbing in the house needed to be redone. He identified a leak in the drain plumbing, but didn't make note that the plumbing was very poorly done and old.
I ended up doing most of the work myself, but it entailed completely gutting the floor and parts of the walls out of a downstairs bathroom and tearing parts of the floor out of the upstairs bathroom. Cost me around five grand, easily.
This post was edited on 12/21/13 at 6:01 am
Posted on 12/21/13 at 6:28 am to LSUstudent2006
quote:
So someone who knows better, please, tell me how I did
Hard to tell without knowing specifics of neighborhood, age of house, etc...
Did you ask for closing costs to be paid?
Posted on 12/21/13 at 6:49 pm to LSUstudent2006
Always be prepared to walk away from the deal.
The inspector will find lots of stuff, you'll ask the Seller to fix. Seller may or may not agree. If you're psychologically prepped to walk away, your negotiating position will be stronger.
The inspector will find lots of stuff, you'll ask the Seller to fix. Seller may or may not agree. If you're psychologically prepped to walk away, your negotiating position will be stronger.
Posted on 12/22/13 at 11:56 pm to LSUstudent2006
160k house at highland and seigen is not a good idea.
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